147 ANNUAL REPORT 2024 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (cont’d) 5. INVESTMENTS IN SUBSIDIARIES (CONT’D) (a) On 25 November 2024, the Company subscribed an additional 116,400,000 ordinary shares in a wholly-owned subsidiary, Keyfield Offshore for a total consideration of RM117,564,000. (b) The non-controlling interests at the end of the reporting period comprise the following:- Effective Equity Interest The Group 2024 2023 2024 2023 % % RM’000 RM’000 Keyfield Endeavour 90 90 4,285 6,030 Keyfield Ship Services 51 51 28 (25) 4,313 6,005 (c) Summarised financial information of non-controlling interests has not been presented as the noncontrolling interests of the subsidiaries are not individually material to the Group. 6. INVESTMENT IN AN ASSOCIATE The Group 2024 2023 RM’000 RM’000 Unquoted shares, at cost 122 122 Share of post acquisition reserves 45 84 167 206 The details of the associate are as follows:- Name of Associate Principal Place of Business and Country of Incorporation Percentage of Ownership Principal Activities 2024 2023 Associate of Keyfield Offshore Naka Bayu Sdn Bhd Malaysia 49% 49% Chartering of tug boat and marine security related activities - temporarily inactive during the financial year. Summarised financial information has not been presented as the associate is not individually material to the Group.
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